Fewer Marine officers will have the option of retiring early with a reduced pension next year as the Corps will sharply cut the number of eligible military occupational specialties.
The Temporary Early Retirement Authority program for officers will be available to those in just eight MOSs, compared to with 26 when the details of last year's program were announced. Before year's end, however, the FY15 program shrunk to just 14 MOSs.
"The MOSs eligible were reduced because we are nearing our targets for end strength," said Col. William Tosick, the head of Manpower Policy Division's Plans, Programs and Budget Branch.
In fact, he said, overall officer end strength has already reached active duty drawdown targets, but there are still "too many of some grades and MOSs, and too few of others."
While not necessarily good news for all individual Marines hoping to exit the service early, the program's downward trend in eligibility is evidence of success by manpower officials in shaping the force during the active duty drawdown that began in 2013 at 202,000 Marines and will take the service to just 182,000 by the end of 2017. The service now hovers at about 184,000.
Officers don't have to worry about TERA going away entirely, however.
"The plan is for TERA to be around for as long as we have the authority to offer it — currently until December 2018," Tosick said. "In order to keep faith with twice-passed majors and staff sergeants not selected for retention via a force shaping board, we will need to have the ability to offer them full retirement benefits, though with a reduced pension based upon actual years of service, through TERA."
To be eligible for FY16 officer TERA, Marines must be an active-duty captain, major or lieutenant colonel in one of the following occupations:
- 0102: Adjutant
- 0802: Field artillery officer
- 1802: Tank officer
- 1803: Assault amphibious vehicle officer
- 3002: Ground supply officer
- 6002: Aircraft maintenance officer
- 7562: CH-46 pilot
- 7564: CH-53 pilot
Also, all captains and majors, regardless of MOS, who failed selection to the next rank may apply for consideration on a case-by-case basis. Ineligible are Marines who failed selection because of a request for non-consideration by a board and those pending legal action, administrative or disability separation, or retirement.
The earliest a Marine approved under FY16 TERA can separate is Oct. 1, but no later than Sept. 1, 2016.
The exact monthly payout under TERA will vary by individual circumstance. For example, a major with 16 years and eight months of service and a high 36-month average basic pay of $7,192.50 would receive a monthly pension of $2,897. For the exact formula, refer to Marine administrative message 270/15, signed June 3, available online.
There are other cash incentives to leave the service early, including like Voluntary Separation Pay, which is targeted to some Marines who have served more than six years in uniform. VSP offers a one-time cash payout that can be six figures for some, but Marines who are also eligible for TERA are cautioned to carefully weigh weight their options. carefully. Opting for VSP over TERA can cost a Marine tens of thousands of dollars over the course of their retirement.
Requests for TERA should be submitted via a Marine's chain of command using an administrative action form at least six months before target retirement date, . they would like to retire. They may indicate their desired separation date which is subject to final approval.
